Bill 104, Tax Fairness for Realtors Act, 2017
represents a potential opportunity for realtors in Ontario to
engage in tax planning strategies that were not previously
available to them. Under this proposed Bill, realtors will be
permitted to establish a Personal Real Estate Corporation (PREC)
and take advantage of the many benefits associated with practicing
through a
professional corporation. Currently, Bill 104 has been approved
in the 1st and 2nd read at the Legislative
Assembly of Ontario.1 If it receives Royal Assent, it
will come into force.
Ontario has lagged behind other Canadian provinces which
currently permit realtors to incorporate professional corporations.
British Columbia, Quebec, Manitoba, Saskatchewan, Alberta, and Nova
Scotia have already implemented legislation that allows realtors to
incorporate a professional corporation. If Bill 104 comes into
force, realtors in Ontario who establish a PREC will be permitted
to trade real estate through their
